In Q4'25, Occidental Petroleum's (OXY) operating expenses totaled $203M USD, with R&D expenses at $45M USD and SG&A expenses at $158M USD, reflecting a notable decline in both categories compared to prior quarters. This latest data point indicates a significant reduction in overall spending, particularly in SG&A, which dropped sharply from previous levels. From Q1'23 to Q4'25, total operating expenses exhibited a downward trend, decreasing from a peak of $432M USD in Q4'23 to $203M USD in Q4'25, driven by substantial cuts in R&D expenses that fell from $125M USD in Q3'23 to as low as $45M USD. SG&A expenses remained relatively stable around $250M-$280M USD through most of 2024 and early 2025 before a sharp drop to $158M USD in Q4'25, suggesting cost optimization efforts amid fluctuating operational demands in the energy sector. The stacked bar chart highlights R&D as a minor component (typically under 30% of total), with SG&A dominating the expenses throughout the period.